Pro Forma PF 208 Time-Sharing Schemes: Cooling-Off Statement

Pro Forma 208: Time-sharing schemes: Cooling-off statement

[PF208]

Pro Forma 208

Time-sharing schemes: Cooling-off statement

Issued: 18 April 2001

This statement must be given to all applicants for interests in a time-sharing scheme at the time of, or prior to, their entering into an agreement to purchase an interest in the scheme. A person to whom this statement is provided is entitled to retain a copy of it.

COOLING-OFF PERIOD FOR THE [INSERT NAME OF SCHEME] TIME-SHARING SCHEME

Your right to change your mind

You may withdraw your offer or terminate your agreement to purchase an interest in a time-sharing scheme within [ *** ] [1] days after the Acknowledgment Date.

The Acknowledgment Date is the date when you sign an acknowledgment that you have received all the relevant documents relating to the time-sharing scheme (these are the application form, the prospectus, any loose-leaf price list and this cooling-off statement).

How can I exercise my right?

You may exercise your right to withdraw from the purchase by giving the responsible entity of the scheme a notice to that effect. The recommended form of written notice is attached to this statement.

The responsible entity’s address for service of notice is:

[insert responsible entity’s address for service of notice]

Acknowledgment

I/We ......

acknowledge receipt of this cooling-off statement, the application form, the prospectus and any loose-leaf price list.

Signature(s): ......

Date: ......

[cut-off section]

WRITTEN NOTICE OF EXERCISE OF MY COOLING-OFF RIGHTS

To: [insert name and address of responsible entity]

I, [insert name of responsible entity] hereby exercise my cooling-off rights and withdraw from my proposed purchase of interest(s) in the time-sharing scheme known as [insert name of scheme]. Please return all money I have paid by way of deposit or otherwise as soon as possible to my address which is [insert address of responsible entity].

[signature]

[date]

Footnotes

1 Here the responsible entity should insert the number of days of the cooling-off period. That number of days must be:

(a) not less than five (5) business days where the responsible entity is a member of the Australian Timeshare and Holiday Ownership Council ATHOC) or another industry supervisory body for the time-sharing line industry approved by ASIC; or

(b) not less than ten (10) business days in all other cases.